Announced by Disney President and Chief Executive Officer Bob Iger and
Parks and Resorts Chairman Jay Rasulo at a press conference at Walt Disney
Imagineering’s Glendale headquarters, the expansion will bring new
entertainment and major family-oriented attractions to Disney’s California
Adventure, including an entirely new Cars Land inspired by the hit
Disney/Pixar animated film Cars.

“The success of the Disneyland Resort over the past few years provides us
with both the opportunity and the need to invest for growth, to enhance and
expand the experience for our guests and attract new visitors, while at the
same time delivering attractive returns on the investment,” said Iger. “This
plan is a reflection of our belief in the bright future of the Disneyland
Resort and our continuing commitment to grow the Anaheim Resort Area as a
world-class tourist destination.”

Disney Imagineers will be bringing more of Walt Disney into Disney’s
California Adventure, celebrating the hope and optimism of California that
attracted Walt to this land of opportunity in the 1920s. Guests entering the
new Plaza will be instantly immersed in the world that inspired Walt during
his early days as an animation pioneer. The new, interactive Walt Disney
Story attraction will set the stage for the unfolding story of Walt that
will permeate the park.

The expansive program reaches throughout Disney’s California Adventure,
with an amazing Little Mermaid attraction, a groundbreaking, signature
nighttime spectacular and new viewing area for 9,000, and the addition of
the 12-acre Cars Land featuring the world of Radiator Springs with three new
attractions. Extensive landscaping, new retail and dining will create an
even richer environment throughout the park in ways that reinforce Guests’
connection with Walt.

“Our Disneyland Guests have a deep emotional connection with Walt Disney,
whose life story really captures the pioneering spirit of California in the
1920s,” said Rasulo. “The creative evolution of Disney’s California
Adventure will connect guests to Walt’s own California adventure and reflect
the place that he found when he first arrived with a cardboard suitcase in
his hand and a head full of dreams.”

The expansion is part of Walt Disney Parks and Resorts’ overall growth
strategy of continuing to invest in its core business of existing parks and
resorts around the world, while exploring new opportunities to capture more
of the growing family vacation market. This announcement follows Disney’s
ground-breaking last month for a 250-room expansion of Disney’s Grand
Californian Hotel & Spa, including 50 rooms dedicated to the West Coast
debut of Disney Vacation Club, the company’s growing time share business.

Multi-day, World-Class Tourist Destination

Today’s announced expansion builds upon the transformation of the
Disneyland park into a multi-day destination resort that began in 2001 with
the creation of the Disneyland Resort and the opening of Disney’s California
Adventure Park, Downtown Disney and Disney’s Grand Californian Hotel & Spa.

Since then, the Disneyland Resort has continued to grow with the addition
of popular attractions and shows, including: Finding Nemo Submarine Voyage,
Pirate’s Lair on Tom Sawyer Island, Buzz Lightyear Astro Blasters, The
Twilight Zone Tower of Terror, Monsters, Inc. Mike & Sulley to the Rescue!,
Block Party Bash, High School Musical 2: Schools Out!, Disney Princess
Fantasy Faire, and Jedi Training Academy, along with the re-Imagineering of
Space Mountain and enhancements to Pirates of the Caribbean.

“This expansion builds on a commitment we made more than a decade ago to
create and grow the Anaheim Resort Area as a world-class tourist destination
where guests would want to stay for more than one day,” said Disneyland
Resort President Ed Grier. “That investment has become a success for Disney,
the Anaheim community and for the economy of Southern California.”

According to the Anaheim/Orange County Visitor and Convention Bureau,
Anaheim is one of the fastest-growing tourist destinations in the country,
enjoying some of the highest hotel occupancy rates in the nation and
attracting millions of visitors each year who spend billions of dollars.

Coming to Disney’s California Adventure Over the Next Several Years

In addition to the new themeing and attractions, Disney’s California
Adventure will receive new restaurant and retail innovations, landscaping to
enrich the placemaking, facade and graphics enhancements, and an extensive
menu of entertainment and events.

Disney’s California Adventure is already home to some of the Disneyland
Resort’s highest-rated attractions and shows, including: Soarin’ Over
California, California Screamin’, The Twilight Zone Tower of Terror and the
Broadway-caliber show, Disney’s Aladdin – A Musical Spectacular.

Cars Land

The expansion will culminate with an entirely new, 12-acre addition: Cars
Land, immersing guests into a world inspired by the hit Disney/Pixar movie,
Cars, playing to America’s love affair with automobiles.

Radiator Springs Racers, a major “E-ticket” attraction, places guests
right in the middle of the amazingly detailed, dimensional Cars world of
Mater, Lightning McQueen, Doc and Sally. Guests get a quick race briefing
from Doc and Lightning, and suddenly find themselves in the midst of a race
around hairpin turns and steep banks.

Cars Land increases capacity to the park with two additional immersive
family rides, featuring Luigi and Mater from the movie. Cars Land represents
an unprecedented level of collaboration between Pixar Animation Studios and
Disney Imagineering to create this extensive new area. The new land will
substantially extend the total area of Disney’s California Adventure park.

Paradise Pier

Paradise Pier will host major new attractions beginning next summer with
the opening of Toy Story Mania!, a ride-through, interactive adventure where
Guests ride into a high-energy 4-D carnival midway hosted by Toy Story
characters. Woody, Jessie, Buzz, Hamm and the gang come to life in amazing
ways, immersing guests in the rich stories of the Pixar blockbuster Toy
Story films.

A major ride based on Disney’s classic The Little Mermaid comes to the
park’s Paradise Pier with leading-edge animation and special effects. Guests
will dive into the magnificent scenes and magical songs from the movie. A
Mermaid Grotto area with a fountain and sand castle will offer new play
experiences for children.

Unique Nighttime Spectacular

The dramatic and unique Disney’s World of Color will bring new nighttime
excitement to Paradise Pier. This nightly panorama of spectacular water
effects, colorful lighting and music will bring Disney animation to life
with an entirely new creative and technical approach. The 9,000 person
viewing area offers prime waterside viewing of the show – and provides a
site for live entertainment, music festivals, and outdoor film premieres.

Entry Plaza and Gateway

The totally new gateway to Disney’s California Adventure welcomes guests
into an immersive world of historic California streets as Walt experienced
them as a young artist arriving with big dreams.

A new visual icon in the tradition of Los Angeles, California’s great
entertainment palaces will draw guests into the heart of the attractions.
This new facility, which was inspired by Los Angeles’ historic Carthay
Circle Theatre that premiered Snow White and the Seven Dwarfs in 1937, will
house a next generation Walt Disney Story featuring an interactive tribute
to Walt’s California experiences, and his entertainment legacy that
continues world-wide today. Red Car trolleys reminiscent of the old Pacific
Electric Railway will travel up and down the main street. New dining and
shopping experiences and a slate of unique, live entertainment will bring
energy to the Walt Disney Plaza.

Hollywood Pictures Backlot

Hollywood Pictures Backlot will be a new home for a slate of special
ticketed events and chances to hear first hand from innovative directors,
writers and animators. An update of the popular family show “Playhouse
Disney” will provide an experience for younger children.

Golden State

The “Golden State” area of the park will see the addition of numerous new
dining opportunities tied to the incredible bounty of California’s farmland
and its rich ethnically diverse food heritage. Food and wine festivals that
celebrate the seasons, tastes and cultures of the dynamic communities of the
Golden State will entertain guests, bringing unique one-of-a-kind
experiences.

Preview Center

A Preview Center located on San Francisco Street in the Golden State
region of the park will feature models, Imagineering concepts – giving park
guests a sneak peek at the excitement that lies ahead. The Preview Center is
scheduled to open in late 2008.

About the Disneyland Resort:

Located on approximately 500 acres in Anaheim, Calif., the Disneyland
Resort includes the Disneyland and Disney’s California Adventure Parks,
three hotels with approximately 2,200 rooms and the 310,000 square foot
retail, restaurant and entertainment Downtown Disney District. With 20,000
employees, the Disneyland Resort is Orange County’s largest single-site
employer and a $3.6 billion annual contributor to the local economy. In
January 2004, the Resort welcomed its 500 millionth guest since opening on
July 17, 1955.

Copyright 2007 Disney Enterprises, Inc.

Already under construction beneath thrill coaster California
Screamin in DCA�s Paradise Pier district, Toy Story Mania, an interactive dark
ride, is considered part of the DCA revitalization project. An interactive dark
ride similar to Disneyland�s Buzz Lightyear Astro Blasters, Toy Story Mania will
feature the added dimension of digital 3D.